SLSBC concludes Singapore trade and investment promotion mission

The Sri Lanka-singapore Business Council (SLSBC) of the Ceylon Chamber of Commerce successfully concluded a business mission to Singapore recently.

The mission was organised to coincide with the Singapore Business Federation (SBF) seminar on doing business and opportunities in Sri Lanka followed by one-to-one business meetings, organised by the SBF, the apex business chamber in Singapore with over 18,000 members, closely supported by International Enterprise (IE) Singapore, the government agency driving Singapore’s external economy and promoting the overseas growth of Singapore-based enterprises and international trade and in association with the Sri Lankan High Commission in Singapore.

The 18-member delegation led by SLSBC President and Spear Global Holdings (Pvt.) Ltd Chairman/ Managing Director Shamil Mendis resulted in an extremely productive visit to Singapore.

The delegation comprised Access International Projects (Pvt.) Ltd Director/chief Operating Officer Chris Chandiram, BOV Capital Ltd General Partner and Lanka Angel Network Founder/director Prajeeth Balasubramaniam, Capitol Developers Limited Chairman Mahen Weerasekera, Hayleys Free Zone Limited Director Amal Rodrigo, Roshanie Jayasundera Moraes of John Keells Holdings PLC, KPMG Principal Deal Advisory Shiluka Goonewardene, MAC Holdings Projects (Pvt.) Ltd Chairman/managing Director Andre Fernando, Omak Technologies (Pvt.) Ltd Chief Executive Officer M.D.E. Sirisena, Property20 (Pvt.) Ltd CEO/ Director Nirupa Peiris, Business Development Manager Sharmaine Delile, Consultant Ahmed Zaharan, Prudential Shipping Lines (Pvt.) Ltd Managing Director Rohitha Mendis, Satheeka Kavisekera of Spear Global Holdings (Pvt.) Ltd, Sunshine Travel & Tours Ltd Board Director Rajat Nagpal and Valdhue & Walker (Pvt.) Ltd Director U.C. Bandaranayake.

The delegation was joined by Board of Investment (BOI) of Sri Lanka Director General/ceo Duminda Ariyasinghe. The mission was co-ordinated by Ceylon Chamber of Commerce Manager Julianne Boulton.

The objective of the SBF seminar was to educate the Singaporean companies on the potential opportunities in doing business with Sri Lanka. The event was attended by over 90 participants from 74 wellestablished Singapore companies including Amara Holdings Limited, a recognized brand name in hotels, properties, specialty restaurants and food services; Capella Hotel Group, a top provider of hotel management services for unique hotels, resorts and spas; Frasers Hospitality Pte Ltd, a global leader in serviced hotel residences and boutique lifestyle hotels with close to 136 properties spanning 78 world’s major cities and international gateways in Asia, Australia, Middle East, Africa and Europe; The Ascotts Ltd, the world’s largest serviced residence owneroperator and a Singapore-owned company with over 29,000 operating serviced residence units worldwide; F&N Food Pte Ltd, a leading player in the food and beverage sector in Singapore and Malaysia; Malaysia Dairy Industries Pte Ltd, a leading dairy and beverage company with annual sales revenue of more than S$ 260 million in Singapore and RM 600 million in Malaysia; DCG Capital Private Limited, offers fund management activities to assist its clients in managing its Singapore and Asian equities as well as balanced mandates for investors; Ssangyong Engineering & Construction Co., Ltd, a leading engineering and construction company in Singapore; Meinhardt Group with 45 offices worldwide provides engineering consulting capabilities civil and infrastructure, planning and urban development, structural engineering, mechanical, electrical and plumbing (MEP) engineering, project management, water and environment; Vacation Singapore Dmc Pte Ltd, one of Singapore’s leading destination management companies, which is equipped and experienced to support the leisure, cruise and MICE business segments, to name a few.

The opening remarks were made by SBF and South Asia Business Group Vice Chairman Dr. R. Theyvendran while the keynote address was made by Sri Lanka High Commissioner to Singapore Nimal Weeraratne.

Addressing the gathering, Mendis stated that the participation of Sri Lankan delegates in a series of successful seminars and business sessions organised by the SBF and IE Singapore in the past has resulted in productive business contacts and partnerships between Singaporean and Sri Lankan companies. Considering Sri Lanka’s rapidly developing status as a regional hub for business Mendis invited the potential Singaporean investors to visit Sri Lanka in order to explore the many opportunities available for doing business in the country.

Ariyasinghe made a detailed presentation on the, business environment and economic developments in Sri Lanka.

IE Singapore Manager South Asia Arthur Teng spoke on the sectorial opportunities for Singapore companies in Sri Lanka while Goonewardene made a presentation on setting up a business and taxation in Sri Lanka.

The seminar concluded with scheduled one-on-one business meetings between the representatives of the Singapore companies and the Sri Lankan delegates as well as with the opportunity for the Singaporeans to interact with the official from the BOI of Sri Lanka and clarify matters relating to potential investments.

The delegation also participated in a series of meetings with companies arranged by the Singapore Malay Chamber of Commerce and Industry (SMCCI) and Singapore Indian Chamber of Commerce and Industry (SICCI), which provided them an opportunity to network with their respective member companies and senior officials of the two chambers.

Weeraratne, supported by Second Secretary Commercial Rekha Mallikarachchi, hosted the members of the delegation for a networking session with Singaporean companies interested in exploring business opportunities and members of the Singapore-sri Lanka Business Association (SLBA) during the mission.

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